NSX gets first oil trading company

NSX gets first oil trading company

CHAMWE KAIRA Reconnaissance Energy Africa Ltd has announced the dual-listing on the Namibian Stock Exchange and the renewal of Petroleum Exploration Licence 001 onshore Botswana, and an operational update with respect to its exploration activities on Petroleum Exploration Licence 073 onshore Namibia. Brian Reinsborough, President and CEO of the Company stated: “We are excited to be the first publicly traded oil and gas company listed on the NSX. ReconAfrica has the largest acreage position of any publicly traded pure play oil and gas exploration company operating onshore Namibia. We have also extended our licence in Botswana under favourable terms. Most…
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Affordable housing key for sustainable development

Affordable housing key for sustainable development

CHRISTOFF BAUERNSCHMITT Affordable housing is one of the key aspects for development in Namibia and in response to the country's pressing housing needs, Old Mutual Namibia launched its Housing Fund in August 2024. With an initial capital of N$50 million, the initiative is set to provide critical financial support for affordable housing projects, aimed at addressing the growing demand for accessible and affordable housing in the country. The government set a national target in the Fifth National Development Plan of developing 20 000 houses over a four-year period and mandated the NHE to execute 5 000 houses of that target.…
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Paratus completes East-West Africa fibre route

Paratus completes East-West Africa fibre route

Paratus Group has completed its East-West Africa fibre route, offering a fast and resilient link to anywhere in the world from anywhere in the southern African region. The Paratus East-West route, the first coast to coast terrestrial route using Paratus built fibre infrastructure, offers an alternative terrestrial route, the current demand for which has been precipitated and expedited by the recent and frequent network outages. As Paratus Group CEO, Schalk Erasmus says: “This sea-change in imperatives has arisen due to breakages in certain subsea cable systems. Operators need a more reliable route and, with our new East-West route, by connecting…
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Truck drivers warned to avoid Mozambique

Truck drivers warned to avoid Mozambique

Niël Terblanché The Namibian Revolutionary Transport Union (Naretu) has issued a stern warning to truck drivers, advising them to avoid crossing into Mozambique due to escalating post-election violence currently underway in the East African country. Naretu’s president, Petersen Kambinda reported that on Wednesday at least one Namibian truck was torched at the Lebombo border crossing by looters targeting cargo vehicles entering and exiting Mozambique. "One of our drivers was forced out of his truck during the early hours of this morning and was only allowed to remove his personal documents and belongings before the looters set the vehicle on fire,"…
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Kavango East education directorate rent halls for exams

Kavango East education directorate rent halls for exams

Allexer Namundjembo The education directorate of the Kavango East region has resorted to renting halls as examination venues, citing an inability to accommodate the rising number of students at existing school facilities. The decision to rent external spaces follows refusals from churches in the past to allow the use of their buildings for exams. Christine Shilima, Kavango East’s regional education director, confirmed that the region faces a critical shortage of exam venues due to a lack of school halls. “Schools were built without halls, and we have more learners who can’t fit in classrooms. Due to the rules of exams,…
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Inauguration of Chief Hosea Kutako Memorial Shrine postponed

Inauguration of Chief Hosea Kutako Memorial Shrine postponed

Martin Endjala On Wednesday, the Office of the President announced the postponement of the Chief Hosea Kutako Memorial Shrine's inauguration in Toasis, Aminius Constituency to 10 December. According to the Office of the President’s statement issued on Wednesday, President Nangolo Mbumba was set to unveil the shrine at the inauguration ceremony on Friday. The Presidency stated that the postponement is because President Mbumba will be visiting Botswana to attend the swearing-in ceremony of that country’s president-elect, Duma Boko on Friday, 8 November. “The Presidency wishes to apologise for any inconvenience the change of dates for the inauguration of the Chief…
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Namdeb private hospital for sale

Namdeb private hospital for sale

Martin Endjala The diamond mining company Namdeb has put its private hospital in Oranjemund up for sale or is seeking to outsource its operations to service providers. The company recently issued an Expression of Interest (EOI) notice to registered authorities, who will evaluate it and shortlist those who meet the criteria. “Namdeb is seeking experienced and reputable healthcare service providers to express their interest in the sale or outsourcing of the Namdeb Private Hospital in Oranjemund,” read the notice seen by the Windhoek Observer. Compulsory virtual information sessions were held on 12 November, with the submission deadline set for 20…
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Former police reservist sentenced to three years in prison

Former police reservist sentenced to three years in prison

Martin Endjala The Anti-Corruption Commission (ACC) chief communications officer, Josefina Nghituwamata, has announced that former police reservist Sakaria Kokule has been sentenced to three years in prison. Kokule was convicted following his attempt to bribe an ACC official to remove ATM cards from evidence obtained by the ACC in connection with the Fishrot investigation. According to Nghituwamata, Kokule was sentenced on 5 November after being found guilty by the Windhoek Magistrate’s Court on 2 October. Nghituwamata stated that Kokule was arrested in January 2020, and during the trial, the ACC provided evidence showing that a N$250 000 bribe was offered…
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Major dredging project set to enhance Walvis Bay port capacity

Major dredging project set to enhance Walvis Bay port capacity

Niël Terblanché The Port of Walvis Bay is set to undergo a transformation with the commencement of a six-month-long capital dredging project aimed at widening and deepening its main navigation channel. The Namibian Ports Authority’s (Namport)Chief Port Captain, Lukas Kafuna has outlined the operational details of the dredging project, which will involve three dredger vessels, each measuring 140 metres in length, supported by a 24-metre Multi Cat and a survey vessel. To ensure maritime safety during the dredging operations, Namport has issued a notice to all marine stakeholders detailing the movement schedules of each dredger over the six months, as…
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Stakeholders aim to find new funding initiatives for SMEs

Stakeholders aim to find new funding initiatives for SMEs

Niël Terblanché Namibia is moving towards bridging the knowledge and resource gaps that many Namibian Small and Medium Enterprises (SMEs) face, particularly aimed at youth-owned businesses that play an essential role in job creation and poverty alleviation. In this regard, the Economic Association of Namibia (EAN) hosted a landmark discussion on addressing the funding challenges faced by Namibian startups and SMEs in Windhoek on Monday. The event brought together key players from government, financial institutions, and business associations to explore practical solutions for creating a more supportive financial ecosystem for Namibia’s growing entrepreneurial sector. The Deputy Minister of Sport, Youth,…
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